Take two events A and B. For example, let A be the event “Receive a score of 95% on the econometrics exam” and let B be the event “Study econometrics 12 hours a day”. We might be interested in the ...

Gerolamo Cardano (1501-1576) wrote the first recorded definition of probability. Mlodinow (2009) paraphrased a modernized definition of probability from Cardano's work, Book on Games of Chance: ...

To calculate the probability of an event, the total number of possible outcomes is often required. For simple situations, making a list or completing a sample space diagram is enough but in more ...

Probability is the measure of the likelihood that an event will occur. In simple terms, it tells us how likely it is for a particular outcome to take place. When there are multiple events, calculating ...